In the first three quarters of 2018 the total investment volume in six CEE countries (Poland, the Czech Republic, Slovakia, Hungary, Romania and Russia) reached EUR 8.9bn. The CEE investment market is still very attractive to institutional investors, a shortage of prime product being the biggest challenge. Investment activity in Poland exceeded the value recorded for the whole of 2017 and is expected to reach a record high of EUR 6bn by the year’s end. Sustainable and solid performance was recorded in Hungary and Slovakia with volumes hitting those in 2017, whereas Russia, the Czech Republic and Romania are expected to close the year at lower investment volumes, slightly below the 2017 levels.
Q4 2018 is expected to be the most active period in terms of investment activity, with a promising pipeline. If all planned transactions are closed as expected, the total investment volume in the six countries of the region will reach approximately EUR 13bn, less than the previous year’s EUR 15.3bn. Read more

• The Czech Republic has made it into the top 20 world’s most expensive retail streets for the first time. With rents of EUR 230 per sq m per month, Prague’s Na Příkopě Street is at No. 19, leaping three positions up from the last year.
• New York’s Upper 5th Avenue slips to second after significant rental decrease
• London’s New Bond Street is the most expensive European city and third globally
• The 30th edition of the global report shows new trends in the changing retail sector Read more

Michal Naskos MRICS is promoted to Head of Valuation Czech Republic, Richard Hogg MRICS becomes Head of Advisory Services and will continue to lead the Valuation & Advisory Service Line.
In response to growing demand in the Czech property market for specialist asset and market analysis, Cushman & Wakefield has expanded its Advisory service line with a newly established team of 3 dedicated professionals headed by Richard Hogg MRICS. In conjunction, Michal Naskos MRICS, a veteran of the valuation industry, becomes Head of Valuation Czech Republic. Read more

Transactions in the logistic sector have been dominating the market this year. In the first half of 2018 alone, the take-up was 24% higher than in the full year 2017, precisely 226,600 sq m. During the same period the overall gross take-up reached in Prague 408,000 sq m, showing an increase of 56 %. Besides logistic sector, more than 90,000 sq m was taken by production and 76,000 sq m by distribution. The biggest new deal in Prague in the logistic sector was done by cargo-partner ČR, which signed a lease agreement for 12,450 sq m located in a stand-alone industrial building in the Logicor Prague Airport logistic park. The company will start operating from the new premises at the beginning of 2019. Cushman & Wakefield facilitated the lease of the premises. Read more

Global Investment in Real Estate Hits Record $1.8tn, New York experienced the largest volumes of investments, London attracted the most foreign capital
• Asian investors behind 18% increase in capital deployed
• New York retains top spot as the largest real estate market in the world by volume
• Hong Kong rises up rankings to make global top 5, behind Los Angeles, London and Paris
• London strengthened its position as the city attracting most overseas investment, growing 22% year-on-year despite Brexit
• Prague is ranked 84th, dropping down from 44th place Read more

Michal Dostál has joined Cushman & Wakefield as the new Head of Marketing, replacing Dita LaRue, who is going on maternity leave. He was previously the Middle and Eastern Asia Area Sales Manager at Linet. Read more

In Central and Eastern Europe*, hotel owners are experiencing record months in terms of average daily rates which was the primary driver of the double-digit RevPAR (Revenue per available room) growth recorded by central European cities in 2017. The growing trend was also seen in the first half of this year (H1 2018). The only exception was Warsaw where RevPAR dropped slightly due to declining occupancy, yet the prices of rooms increased as in other capitals. The higher room rates translated to notable gains in hotels’ profitability which brought significant interests from investors. The lack of hotel properties available for sale and shortage of development sites in prime locations is turning attention to conversions of existing buildings into hotels. As the demand continues to grow and the development pipeline remains limited in most markets (except for Warsaw and Vienna), profitability is expected to stay strong also in the coming years. Read more

Cushman & Wakefield has become the manager of three buildings of TRIUVA, a PATRIZIA Company, including the Five office centre in Smíchov, Wenceslas Square 9 and Lindner Hotel Prague, as well as new acquisitions of Funds managed by Amundi Immobilier Paris and Amundi Czech Republic - iconic building Praha City Center in Prague 1 and the Polygon House in Pankrác. Read more

The international real estate advisory firm Cushman & Wakefield has been announced the ultimate winner of the 14th annual Euromoney Real Estate Survey 2018 in the Czech Republic and the CEE region. Read more

Amundi Czech Republic, investiční společnost a.s., has completed the acquisition of the company holding the property Polygon office building at Pankrác in Prague for its KB realitní fond 2. The property was sold by Mint Investment company. Cushman & Wakefield, the leading real estate services firm, facilitated the transaction. Read more

CPI Property Group’s iconic Bubenská 1 has acquired a significant new tenant. By 2020, 12 companies and agencies from the multinational WPP Group will be located under one roof. The heritage protected building, will undergo extensive reconstruction, delivering tenants a top-quality working environment while maintaining the building’s unique architecture. Read more

Cushman & Wakefield today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its ordinary shares. Read more

The Czech market has not delivered any new shopping centre space since the beginning of the year. Owners focus on revitalisation.
• Major slow-down in shopping centre development across Europe: 3.8 million sq m of new shopping centre space was delivered to the market in 2017, 23% less than in 2016.
• Traditional shopping centres are turning into ‘experience’ centres with a high added value covering inter alia all types of services.
• Multi-purpose facilities will prevail, combining shops, offices, hospitality, entertainment concepts and residential space all in one. Boundaries between the individual sectors are blurring. Read more